& Appreciates IMF’s Waiver For $3 Billion Chinese Loan

The Savannah Accelerated Development Authourity (SADA), is to benefit from an $18 million DFID facility to start a Millennium Villages Project (MVP), come 2012.

This came to light when His Excellency President John Evans Atta Mills met with Professor Jeffery Sachs in New York on Thursday, December 29, 2011.
The DIFD support for SADA is as a result of His Excellency President Atta Mills’ personal intervention through Professor Sachs, a renowned Development Expert.
The MVP is aimed at bettering the lot of peasant farmers in the three Northern Regions via the provision of seedlings, fertilizers and farming inputs.
Also, the MVP will work at deepening increased access to health care and education in the beneficiary communities.
Speaking to the issue, Professor Jeffery Sachs, Director of the Earth Institute of Columbia University, congratulated President Atta Mills for the prudent manner in which his Administration has managed Ghana’s economy as well as the country’s development agenda.
As a Development Expert, Professor Sachs lauded the close attention that President Atta Mills is paying to bridging the North/South divide, as well as the strong commitment to sending development to the hinterland.
“Mr. President, you have shown a lot of personal commitment towards developing the Northern part of Ghana and this project will go a long way to support the accelerated development of the North” Professor Sachs said.
According to Professor Sachs, he will be in Ghana on the 7th of January next year to start collaborating with the University of Development Studies (UDS), which is going to be a key partner in breathing life into the MVP.
After the initial spadework has been done, Mr. Andrew Mitchelle, Head of DFID, and UK Secretary of State for International Corporation, is expected to be in Ghana sometime in March next year, for the major launch of the project.
In a related matter, President Atta Mills also thanked Professor Sachs for the critical role he played in getting the IMF to support Ghana’s $3 billion loan facility from China.
According to President Atta Mills, his pledge to make 2011 an Action Year has ended positively with the entry of the $3 billion facility because the money is really going fast track Ghana’s infrastructure expansion and job creation.
According to His Excellency the President, his Administration will ensure that the confidence reposed in Ghana by the IMF is not abused.
“What has happened is historic and there is no way will abuse the confidence and trust that the IMF, China, and all our development partners have reposed in us” President Atta Mills said.
According to President Atta Mills, Ghana has reached a critical point as regards his development plan and he will seize the moment and lead the forward march of the nation.
“We cannot afford to fail and I assure you that we shall not fail” President Atta Mills said.
On his part, Professor Sachs said the unanimous decision by the IMF to support Ghana’s bid to secure the $3 billion loan facility is because the world is watching Ghana’s growth agenda with very keen interest.
“Ghana has a great opportunity to take-off jnto real economic development and the IMF is ready to support you every step of the way” Professor Sachs said.
“Ghana’s accomplishment up to this point is very phenomenal and the world is watching closely” Professor Sachs added.
His Excellency President Atta Mills is expected to meet with KOSMOS Energy and other investors before returning to Ghana on Saturday, December 31, 2011.